Chestnut Commons - Emmaus, PA

 
 
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  • Acquired: 2020

  • Units: 48

  • Aggregate Acquisition Cost: $5.1m

  • Strategy: Renovate & Refinance

  • Projected Annual Return: 15%

  • Description: ACRE partners are passive LPs on this deal sponsored by Red Knight Properties. This is a workforce housing apartment community in Lehigh County Pennsylvania near Allentown. The sponsors will lead efforts to renovate the exterior, common spaces, and individual units to achieve rents at market average.

 
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